Gold Fields Expands the Exploration Potential of the Southeast Zone at the Woodjam Copper-Gold Project
10 Décembre 2013 - 3:15PM
Access Wire
Vancouver, BC, December 10, 2013 -
Consolidated Woodjam Copper Corp. ("Woodjam Copper") (TSX-V:
WCC) reports that Gold Fields
Horsefly Exploration Corporation ("Gold Fields"), a subsidiary
of Gold Fields Limited
(JSE, NYSE, NASDAQ, Dubai: GFI), has completed the fall
drilling program which totaled 1,473.91 m in 6 holes. These holes
are all located in an area proximal to the Southeast Zone on claims
recently optioned from a third party (See News Release Dated May
15, 2013) that have been included in the Woodjam South option. The
Southeast Zone is one of five known zones of porphyry copper-gold
mineralization on the property, which includes the Woodjam North
and South areas.
The Southeast Zone lies within an
IP Chargeability anomaly measuring approximately 1.5 km by 2.0 km
and which is open to the east onto the newly optioned adjoining
claims. The fall drilling program completed 6 widely spaced holes
on possible projections of this IP anomaly. Significantly, hole
MT13-04, collared approximately 1.3 km northeast from the eastern
edge of the Southeast Zone, encountered bedrock at 15.24 m and
intersected the same intrusive phases that comprise the Southeast
Zone. It displayed strong potassic alteration as well as
significant lengths of mineralization as outlined in the following
table:
-----------------------------------------------
|Hole ID |From (m)|To (m)|Interval (m)|Cu (%)|
|---------------------------------------------|
|MT-13-04 |75.0 |196.0 |121.0 |0.11 |
|---------------------------------------------|
|including|149.0 |196.0 |47.0 |0.14 |
-----------------------------------------------
Hole MT-13-04 opens up a large area
of exploration potential for possibly extending the Southeast Zone
to the northeast or to discover a separate zone. The grades in hole
MT-13-04 are similar to those encountered in holes on the perimeter
of the Southeast Zone. The undrilled area between this hole and the
Southeast Zone is large enough to host a similar sized zone.
Woodjam Copper Corp. is looking forward to future exploration in
this exciting new area. The other 5 holes in the program
intersected various intervals of anomalous copper.
The 60,000 ha Woodjam
property is located in the Cariboo region of
south-central British Columbia, approximately 50 km east of the
Williams Lake. Five zones of copper-gold mineralization have so far
been discovered at Woodjam with NI 43-101 inferred resources
reported by Gold Fields for three of them (see news release dated
October 28, 2013).
Gold Fields
vested a 51% interest in both the Woodjam North and South
properties in January 2012. At its discretion, Gold Fields can earn
an additional 19% interest in both projects through expenditures of
CAD$12 million and US$8 million over four years on the Woodjam
North and Woodjam South properties, respectively. These expenditure
requirements will be reduced by the 2012 and 2013 expenditures. In
addition, Gold Fields would be required to complete a comprehensive
feasibility study on the Woodjam South property.
G. L. Garratt, P.Geo., a qualified
person for the purposes of National Instrument 43-101, has read and
taken responsibility for this news release.
G. L.
Garratt, P.Geo.
VP, Director
Consolidated Woodjam Copper Corp.
Contact:
Paul Way, Investor Relations
Phone: (604) 681-7913, Toll Free:
888-656-6611; email: office@woodjamcopper.com
The TSX Venture Exchange has not
reviewed and does not accept responsibility for the adequacy or
accuracy of this release.
About
Consolidated Woodjam Copper Corporation
Consolidated Woodjam Copper Corp. ("Woodjam
Copper") (TSX-V: WCC) trades on the TSX-V exchange
and currently owns a 49% interest in the Woodjam North and Woodjam
South properties which are under option to Gold Fields who own a
51% interest and may earn a further 19% to total a 70% interest in
the properties. In 2012, Woodjam Copper published an initial
Southeast Zone NI 43-101 compliant inferred resource of 146.5
million tons grading 0.33% copper (pit constrained). This resource
was updated as of May 15, 2013 to 227.5 Mt grading 0.31%
copper.
About Gold
Fields Limited
Gold Fields Limited
is an unhedged, globally diversified producer of gold with
eight operating mines in Australia, Ghana, Peru and South Africa.
In February 2013 Gold Fields unbundled its KDC and Beatrix mines in
South Africa into an independent and separately listed company,
Sibanye Gold. In October 2013 Gold Fields acquired Barrick's Granny
Smith, Lawlers and Darlot Gold Mines in Western Australia. Gold
Fields subsequently has attributable gold-equivalent annual
production of approximately 2.2 million ounces, Mineral
Reserves of approximately 60 million ounces and Mineral
Resources of approximately 158 million ounces. Gold Fields has a
primary listing on the JSE Limited, with secondary listings on the
New York Stock Exchange (NYSE), NASDAQ Dubai Limited, Euronext in
Brussels (NYX) and the Swiss Exchange (SWX).
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